Hyperliquid edges closer to a potential breakout as sustained buybacks, strong fundamentals, and on-chain growth fuel optimism for a bullish reversal.
Hyperliquid continues to make waves in the crypto market as buybacks, ecosystem growth, and technical strength align for a potential turning point. With the protocol now reclaiming attention through consistent on-chain activity and steady price structure, participants are starting to flip back bullish.
Hyperliquid’s current price is $38.29, down -7.96% in the last 24 hours. Source: Brave New Coin
Buyback Growth Strengthens Hyperliquid’s Fundamentals
Hyperliquid’s buyback mechanism has now accumulated over $521 million, offsetting more than 5.6% of the circulating supply. The consistent buybacks through 2025 show a strong foundation built on protocol-driven revenue.
Hyperliquid’s buyback reserves surpass $521 million, removing over 5.6% of supply and reinforcing bullish fundamentals. Source: Tokenomist via X
This steady reduction in liquid supply is price-supportive on dips and improves conditions for the bulls. With steady accumulation from March to October, Hyperliquid continues to show unmatched sustainability. This reinforces long-term confidence among investors, especially as on-chain metrics stay firmly bullish.
Continuous Buybacks Keep Bulls in Control
Another $3 million in HYPE was repurchased yesterday, as shown by Tobias Reisner, bringing the total to $108 million over the past month. Such consistent absorption of supply reflects deep market conviction.
Hyperliquid continues its aggressive buyback spree, adding another $3 million to its monthly total of $108 million. Source: Tobias Reisner via X
If the current pace holds, it lifts HYPE’s near-term price trajectory and strengthens the medium-term outlook, setting the stage for pushes back into prior resistance zones as broader conditions improve.
On-Chain Developments Add to the Bullish Case
The recent activation of HyperEVM adds another layer of strength to Hyperliquid’s setup, with Sayan noting that HYPE remains bullish as the system goes live on Backpack. Technically, this expansion aligns with a tightening structure around the $34 to $37 support region, which has repeatedly acted as a strong base for rebounds.
Hyperliquid’s new HyperEVM launch strengthens its on-chain ecosystem. Source: Sayan via X
If buyers manage to hold above this zone, the next short-term resistance sits near $40 to $42, followed by $45 where prior swing highs converge. The recent higher low formation signals accumulation, hinting at a potential trend reversal forming beneath the surface. Coupled with strong fundamentals, these levels suggest HYPE could soon transition from consolidation to a gradual upside recovery.
Hyperliquid Price Prediction: Technicals Turning Constructive
Chart data from ctm_crypto shows HYPE breaking out from its downtrend and successfully retesting the trendline, a move that often precedes extended rallies. Current targets sit between $38.50 and $40.90, with higher resistance levels around $45.90.
Hyperliquid breaks its downtrend and retests support. Source: ctm_crypto via X
A retest of the breakout zone could provide fresh support near $36.00 to $36.50. If this HYPE price structure holds, it may confirm a clean transition from accumulation to expansion, leading to a bullish Hyperliquid price prediction.
Technical Structure Supports Medium-Term Upside
Slug’s technical chart suggests that HYPE is “getting closer to looking biddable,” showing potential for an upward reversal by mid-November or early December. The structure points to a base formation phase after a deep correction.
Hyperliquid HYPE is building a solid base for a potential mid-November breakout toward the $50 zone. Source: Slug via X
Momentum appears to be coiling for a fresh breakout, with early accumulation already visible on the lower timeframes. If the broader sentiment aligns, the setup could evolve into a sustainable recovery phase, potentially targeting the mid-$50 range later this quarter.
Final Thoughts: Hyperliquid’s Next Move?
Hyperliquid’s momentum continues to strengthen both technically and fundamentally. The consistent buybacks, growing ecosystem utility, and renewed investor participation paint an encouraging picture for the coming days.
Sustained Buybacks Could Fuel Next Leg Higher: The ongoing buyback accumulation continues to reduce circulating supply, a structural advantage that could drive price appreciation once market sentiment stabilizes.
Technical Base Forming Around $34 to $37: Buyers have consistently defended this range, and a firm close above $40 would confirm a bullish shift in short-term structure.
Recovery Outlook Positive: With strong fundamentals, on-chain expansion, and improving momentum, HYPE appears positioned for a gradual rebound, potentially retesting $45 to $50 in the coming sessions.
Overall, Hyperliquid is showing one of the more constructive setups among the crypto projects.